Restrictions on foreign investment in the manufacturing sector will be lifted with the release of the 2024 version of the negative list for foreign investment access, which will come into effect on Nov. 1.

The negative list cuts the number of restrictions from 31 to 29.

The lifting of restrictions on foreign investment access in the manufacturing sector demonstrates China’s willingness to expand international cooperation and clear-cut attitude to support economic globalization. China supports exchanges and cooperation between Chinese and foreign enterprises to promote high-end, smart and green development of the manufacturing industry.

Since the beginning of this year, industry authorities have launched opening-up pilot projects in value-added telecommunications and other fields.

The National Development and Reform Commission will work with relevant industry authorities to carry out pilot work in related fields by integrating with the development of other platforms such as free trade pilot zones and free trade ports.

The commission is studying plans to revise the catalog of encouraged industries for foreign investment, such as adding items to the service sector to direct more foreign investment in the sector.

The high-quality development in the service sector is closely related to people’s well-being, and further opening-up in the service sector is conducive to improving its diversified supply capacity. 

(Source: english.www.gov.cn)